March 6, 2007, Los Angeles & Munich -
(BUSINESS WIRE) - The share purchase agreement dated December 14,
2006, between Lavena Holding 4 GmbH, which is controlled by funds
advised by KKR and Permira, and German Media Partners L.P., for the
acquisition of German Media Partner's majority interest in
ProSiebenSat.1 Media AG closed today, thereby finalizing the
transfer of legal ownership of the majority interest in Germany's
largest commercial TV Group. Lavena Holding 4 GmbH now owns
approximately 88 percent of the voting common stock and
approximately 13 percent of the non-voting preferred stock, for a
total of approximately 50.5 percent of the capital stock of the
ProSiebenSat.1 Media AG.

All required approvals for the closing of the December 14, 2006
share purchase agreement between Lavena Holding 4 GmbH and German
Media Partners L.P. have been obtained. Specifically, on February
22, 2007, the EU Commission cleared the acquisition and on February
6, 2007, the national Commission on Concentration in the Media
(KEK) approved the takeover as consistent with legislation
regulating media ownership in Germany.

The close of this transaction represents the conclusion of the
successful restructuring of ProSiebenSat.1 Group, which was bought
from the insolvency administrator of the Kirch empire and
transformed into a highly profitable and fast-growing group.

During GMP's ownership, listed preference shares of
ProSiebenSat.1 grew 337% from EUR 7.43 per share at the time of the
acquisition to today's share price of EUR 25.05.

Haim Saban, Chairman and Chief Executive Officer of the Saban
Capital Group, Inc., and chairman of the ProSiebenSat.1 Supervisory
Board, said: "The Company's senior management was instrumental in
the remarkable achievements during GMP's ownership and for creating
significant value for all shareholders. We are extremely grateful
for management's efforts, led by Guillaume de Posch, over the last
couple of years."

In recognition of this performance, German Media Partners will
pay a special bonus totaling EUR 23 million to the senior
management group and employees of ProSiebenSat.1. This bonus is
being funded solely by departing shareholder German Media
Partners.

Saban continued, "I would like to thank all of the people with
whom we met during our time in Germany for the friendly and
warm-hearted reception and for the opportunity to invest and work
here. We look forward to new opportunities to invest in Germany in
the future."